Kumar Mangalam Birla is gearing up to launch a gold jewellery venture in India, the world's second-largest bullion market, by July. The move comes as part of his conglomerate's strategic expansion into new sectors to cater to the Indian consumer market.

The Aditya Birla Group's foray into branded jewellery retail will unfold nationwide through a privately-held entity, Birla disclosed during an event marking the introduction of his paints business in Haryana. "The group is shifting focus towards consumer-facing ventures, aligning with global trends," he remarked.
This initiative marks the conglomerate's third significant venture into new sectors in recent years, following entries into paints and B2B e-commerce for construction materials. Birla's entry into the gold jewellery market puts him in competition with a landscape dominated by small retailers and established national chains such as Tata Group's Tanishq and Kalyan Jewellers India Ltd., backed by Warburg Pincus LLC.

Previously earmarked with a budget of 50 billion rupees ($604 million), Birla's foray into the jewellery business aligns with expectations of a rebound in India's gold demand, projected to rise to 900 tons over the next two years from 748 tons in 2023. This surge is supported by increasing incomes as the economy expands, with gold traditionally valued for its auspicious significance in Indian culture, especially during weddings and festivals.